Chile: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Chile

In 2021, after three years of growth, there was significant decline in the Chilean battered fish fillet market, when its value decreased by -17.3% to $X. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Battered fish fillet consumption peaked at $X in 2020, and then shrank dramatically in the following year.

Battered Fish Fillet Production in Chile

In value terms, battered fish fillet production dropped slightly to $X in 2021 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +42.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. Battered fish fillet production peaked at $X in 2020, and then shrank in the following year.

Battered Fish Fillet Exports

Exports from Chile

In 2021, approx. X tons of fish fillets in batter or breadcrumbs were exported from Chile; growing by 12% against the year before. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 24%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, battered fish fillet exports rose markedly to $X in 2021. In general, exports saw a modest increase. The pace of growth appeared the most rapid in 2018 with an increase of 29% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Jamaica (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of battered fish fillet exports from Chile, together comprising 42% of total exports. Argentina, Ghana, Bolivia, Sri Lanka, Canada, Colombia, the UK, Micronesia, Tonga and Congo lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +56.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for battered fish fillet exported from Chile were Jamaica ($X), the United States ($X) and Singapore ($X), together comprising 42% of total exports. These countries were followed by Bolivia, Argentina, Ghana, Sri Lanka, Canada, Colombia, the UK, Micronesia, Tonga and Congo, which together accounted for a further 42%.

Colombia, with a CAGR of +59.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average battered fish fillet export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2013 when the average export price increased by 8.3% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Bolivia ($X per ton) and Jamaica ($X per ton), while the average price for exports to Congo ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Battered Fish Fillet Imports

Imports into Chile

In 2021, overseas purchases of fish fillets in batter or breadcrumbs decreased by -30.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 124%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, battered fish fillet imports reduced sharply to $X in 2021. Over the period under review, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 101%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main supplier of battered fish fillet to Chile, accounting for a 96% share of total imports. Moreover, battered fish fillet imports from China exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+24.8% per year) and Peru (-74.8% per year).

In value terms, China ($X) constituted the largest supplier of fish fillets in batter or breadcrumbs to Chile, comprising 91% of total imports. The second position in the ranking was held by Argentina ($X), with an 8.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+24.6% per year) and Peru (-72.1% per year).

Import Prices by Country

The average battered fish fillet import price stood at $X per ton in 2021, with an increase of 13% against the previous year. Over the period under review, the import price, however, saw a mild downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Peru ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (+10.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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